Press Releases

First Asset Income & Growth Fund: Press Release

TORONTO, April 21, 2009 - First Asset Income & Growth Fund (TSX: IGF.UN) announces a distribution of $0.0167 per Unit for the month ending April 30, 2009. The distribution will be paid on or before May 15, 2009 to unitholders of record on April 30, 2009.

Consistent with the Manager's belief that the equity markets represent significant value at current levels, the Manager has commenced selectively deploying the Fund's cash position, which represented as much as approximately 31% of net assets during the market downturn, in higher income earning common shares and Income Trusts.

For further information, please contact Rob MacNiven, Investor Relations at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.